NorAm Drilling AS
NorAm Drilling AS, together with its subsidiary, owns and operates AC driven rigs for the drilling of horizontal wells in the United States. The company owns and operates a fleet of rigs located in the Permian Basin. NorAm Drilling AS was incorporated in 2007 and is headquartered in Oslo, Norway.
NorAm Drilling AS (TM9) - Total Assets
Latest total assets as of June 2023: €111.31 Million EUR
Based on the latest financial reports, NorAm Drilling AS (TM9) holds total assets worth €111.31 Million EUR as of June 2023.
Total assets represent everything the company owns and controls, combining both current assets—like cash and cash equivalents, accounts receivable, and inventories—and non-current assets such as property, plant, equipment (PP&E), intangible assets, and long-term investments.
NorAm Drilling AS - Total Assets Trend (2019–2022)
This chart illustrates how NorAm Drilling AS’s total assets have evolved over time, based on quarterly financial data. Explore and compare other companies by total assets.
NorAm Drilling AS - Asset Composition Analysis
Current Asset Composition (December 2022)
NorAm Drilling AS's total assets of €111.31 Million consist of 25.3% current assets and 74.8% non-current assets.
| Asset Category | Amount (EUR) | % of Total Assets |
|---|---|---|
| Cash & Equivalents | €0.00 | 11.3% |
| Accounts Receivable | €14.80 Million | 12.8% |
| Inventory | €0.00 | 0.0% |
| Property, Plant & Equipment | €0.00 | 0.0% |
| Intangible Assets | €0.00 | 0.0% |
| Goodwill | €0.00 | 0.0% |
Asset Composition Trend (2019–2022)
This chart illustrates how NorAm Drilling AS's asset composition has evolved over time. Understanding changes in asset allocation can provide insights into the company's strategic shifts, capital allocation priorities, and business focus evolution.
Key Asset Composition Facts
- Current vs. Non-Current Assets: NorAm Drilling AS's current assets represent 25.3% of total assets in 2022, an increase from 15.1% in 2019.
- Cash Position: Cash and equivalents constituted 11.3% of total assets in 2022, up from 5.1% in 2019.
- Tangible vs. Intangible: Intangible assets (including goodwill) make up 0.0% of total assets, unchanged from 0.0% in 2019.
- Asset Diversification: The largest asset category is accounts receivable at 12.8% of total assets.
NorAm Drilling AS Competitors by Total Assets
Key competitors of NorAm Drilling AS based on total assets are shown below.
| Company | Country | Total Assets |
|---|---|---|
|
Xinjiang Zhundong Petroleum
SHE:002207
|
China | CN¥399.19 Million |
|
Yantai Jereh Oilfield Services Group Co Ltd
SHE:002353
|
China | CN¥38.08 Billion |
|
China Oil HBP Science & Technology Co Ltd
SHE:002554
|
China | CN¥5.76 Billion |
|
Zhejiang Renzhi Co Ltd
SHE:002629
|
China | CN¥269.97 Million |
|
Reservoir Link Energy Bhd
KLSE:0219
|
Malaysia | RM215.28 Million |
|
Ocean Vantage Holdings Bhd
KLSE:0220
|
Malaysia | RM108.28 Million |
|
Aker Solutions OL
F:1AKA
|
Germany | €38.35 Billion |
|
Prime Oil Chemical Service Corp
TW:2904
|
Taiwan | NT$1.82 Billion |
NorAm Drilling AS - Asset Efficiency Metrics
Asset efficiency metrics measure how effectively a company uses its assets to generate revenue and profits. These indicators help investors evaluate management's ability to deploy capital efficiently.
Asset Turnover Ratio
Measures how efficiently a company uses its assets to generate sales
Strong asset utilization - NorAm Drilling AS generates 0.82x its asset value in annual revenue.
Return on Assets (ROA)
Measures how efficiently a company uses its assets to generate profits
Moderate ROA - For every $100 in assets, NorAm Drilling AS generates $ 2.57 in net profit.
NorAm Drilling AS - Liquidity and Working Capital Analysis
Liquidity ratios measure a company's ability to pay off its short-term debts as they come due, using the company's current or quick assets. Working capital represents the operational liquidity available.
Key Liquidity Metrics
| Metric | Current | 1 Year Ago | 5 Years Ago |
|---|---|---|---|
| Current Ratio | 1.54 | 0.25 | 0.25 |
| Quick Ratio | 1.54 | 0.25 | 0.25 |
| Cash Ratio | 0.00 | 0.00 | 0.00 |
| Working Capital | €11.03 Million | € -66.13 Million | € -66.13 Million |
NorAm Drilling AS - Advanced Valuation Insights
This section examines the relationship between NorAm Drilling AS's asset base and its market valuation, helping to identify whether the company's assets are efficiently translated into market value.
Key Valuation Metrics
| Current Price-to-Book Ratio | 2.08 |
| Latest Market Cap to Assets Ratio | 0.66 |
| Asset Growth Rate (YoY) | -5.1% |
| Total Assets | €115.81 Million |
| Market Capitalization | $76.83 Million USD |
Valuation Analysis
Below Book Valuation: The market values NorAm Drilling AS's assets below their book value (0.66 x), which may indicate investor concerns about asset quality or future growth.
Significant Asset Reduction: NorAm Drilling AS's assets decreased by 5.1% over the past year, potentially indicating divestiture, restructuring, or challenging business conditions.
Annual Total Assets for NorAm Drilling AS (2019–2022)
The table below shows the annual total assets of NorAm Drilling AS from 2019 to 2022.
| Year | Total Assets | Change |
|---|---|---|
| 2022-12-31 | €115.81 Million | -5.13% |
| 2021-12-31 | €122.07 Million | -12.16% |
| 2020-12-31 | €138.97 Million | -11.00% |
| 2019-12-31 | €156.15 Million | -- |